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Dramatic increase in Enterprising Firms at Portsmouth Technopole

January 29, 2004

Portsmouth Technopole, the spectacular new innovation centre at the gateway to the City of Portsmouth, is filling up fast. The past 3 months have seen 11 companies move into the centre, which is now used by 47 technology businesses from across the Hampshire region. Since opening in April 2002, the Technopole has attracted a steady flow of innovative start-up companies who benefit from 25,000 sqft of office space, as well as access to finance and business support services designed to help them grow. The Technopole's "Hatchery" facility of 8 one-person offices for very early stage businesses, launched last September with SEEDA funding, is also thriving and already has 7 occupants.

Frankie Owens, Manager of Portsmouth Technopole, said:
"We are delighted with the success of the Technopole - the companies that we support are creating jobs and wealth for the local and regional economy. We aim to provide entrepreneurs in this region with services that meet their needs so that they can develop sustainable businesses. We offer a range of offices from 200 to over 2,000 sqft on flexible terms, enabling businesses to expand or reduce their space easily and quickly. And we can help them raise finance through our advice service for R&D Grants (SMART Awards), and the Solent Investment Opportunity Network, a group of business angel investors that provides capital of up to £1m to back early stage ventures. For new businesses that are not yet ready to move into offices we run a low-cost OxiFlex virtual office facility, which lets them try out the Technopole's facilities and business support. Although the Technopole now has 47 companies, there are still a range of offices sizes available and we look forward to welcoming further businesses soon."

Companies benefiting from Portsmouth Technopole's specialist facilities include TestIT Ltd and Vektas Ltd. TestIT provides software testing services primarily to banking, cash handling and security printing businesses such as De La Rue, the world's largest commercial security printer and papermark that produces over 150 national currencies.

Bob Evans, Managing Director of TestIT, said:
"The Technopole provides us with a professional working environment in a superb location, adjacent to the M275. There is a good range of office services, such as central reception and switchboard, meeting rooms with high-speed Internet access and video conferencing equipment. We also value the excellent support from Frankie Owens, the centre manager - most recently, he has helped us with the detailed processes (transport, community support and environmental policies) we need when tendering for contracts using OJEC procedures. This has enabled us to get onto the preferred supplier list of some major potential customers."

Vektas is a rapidly growing software company that invents tools for the management and rapid distribution of technical information. Its advanced document editing and processing software "Warrior" and "Armada" are generating interest in the USA, Singapore, China and Australia, and Vektas is currently advising major companies on how to reduce information creation overheads and increase the reuse of information.

Ian Proudfoot, Technical Director of Vektas, said:
"The decision to move into the Technopole was an easy one for us, as it provides the key facilities and services a growing company needs, all within a monthly licence agreement. The Technopole has played a crucial role in the early success of Vektas and its support has seen us expand into a larger office space within the building, and open a second office in the North East of England."

Portsmouth Technopole is the result of collaboration between Oxford Innovation, the UK's leading operator of innovation centres, Portsmouth City Council, the University of Portsmouth and the South East England Development Agency (SEEDA).

Dr David Kingham, Chief Executive of Oxford Innovation Ltd, said:
"Through the Technopole we are pleased to be contributing to economic development in the Portsmouth area. The Technopole is part of a network of 12 innovation centres managed by Oxford Innovation housing over 250 entrepreneurial businesses. Research shows that start-up companies using our innovation centres have a much greater chance of success - a survival rate of 89% over the crucial first two years, which is substantially better than the UK average."

Portsmouth Technopole is part of the Solent Enterprise Hub, one of SEEDA's network of enterprise hubs designed to support local entrepreneurs wishing to start up innovative businesses.

Oxford Centre For Innovation

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